The bid-to-cover ratio, a gauge of demand, still slipped to 4.44 from 5.07 at the previous auction in April.

The benchmark Nikkei share average hovered near a five-week low in late afternoon trade on Wednesday, with fears of a breakdown in U.S.-China trade negotiations weighing on cyclical stocks. ($1 = 109.96 yen) (Reporting by Tokyo Markets team; Editing by Shreejay Sinha)